oleganza

57 ms·

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by oleganza 13y ago
This puzzle can't be optimised in principle. The whole network of fiat currencies and bank accounts is a web of promises, not hard money. Every transaction is another promise from one banker or person to another. And at the top of that
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by oleganza 13y ago
Gold, which was easier to track down and confiscate "back" was historically confiscated in much larger quantities by much tougher guys. This "insured" government debt-backed money that you have today is a result of havin
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by oleganza 13y ago
Bitcoin Foundation has already organised a massive PR for Bitcoin in US Senate last week that doubled the value of everyone's holdings. Sounds useful to me.
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by oleganza 13y ago
In early version there was a bug with OP_RETURN operation allowing anyone to spend anyone's coins without effort. This was fixed quickly.
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by oleganza 13y ago
Each block has a timestamp. Each 2016 blocks difficulty is adjusted so that next 2016 blocks are produced closer to 10 minute interval between the blocks. Nodes do not tolerate timestamps 2 hours in the future relative to their own timestam
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by oleganza 13y ago
The financial regulations are pretty complicated and can be interpreted or retroactively changed as guys in your government want. Especially in US. There are already "anti-hidden compartment laws": http://www.aei-ideas.
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by oleganza 13y ago
> I believe printing money is actually a good thing. But let's not get into an economics argument here. You are confusing ethical argument with an economical one. I was talking economics, not ethics. Governments get a lot of power f
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by oleganza 13y ago
I'm not an expert in Tor. In one of Snowden's documents NSA admitted that Tor is hard to infiltrate even for them. I myself don't want to live in a world where you need to actively hide from huge adversaries. I'd prefer
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by oleganza 13y ago
Government would still have to set up a center of "approving" unknown money coming from other sources into local economy. These centers, as you can expect, will be massively bribed by everyone who needs to launder their tainted co
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by oleganza 13y ago
Insurance deposits. Both nodes lock up much more money than being "promised". If one node does not deliver, another node will automatically destroy both deposits. Nodes thus are motivated to follow the protocol and not cheat. Sinc
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by oleganza 13y ago
There's Tor. In addition, your ISP never sees transactions coming to you . You can later spend your newly received coins from some other network.
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by oleganza 13y ago
Tor works somehow and NSA admits that it's a pain in the ass even for them. When someone targets you specifically, you have little chances, but when the whole network routinely mixes coins it's much easier to hide in the woods.
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by oleganza 13y ago
That's why you split the coins repeatedly as you mix them. You don't want more than 0.1% of someone's "dirty" history. Client-side statistical analysis allows each node to decide which coins are good for them person
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by oleganza 13y ago
Bitcoin is not so bad at privacy as you say. But it's certainly can be made better with fully automated solution deployed on massive scale individually, without major agreement or protocol changes. It's just an evolution of the te
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by oleganza 13y ago
Any service can share its operations with an adversary. That's a risk. If you don't understand that, then you should prefer Digicash to Bitcoin as it's more anonymous, confirms transactions instantly and does not need any stu
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by oleganza 13y ago
Which only proves my point. It's really hard to make it right in v0.1 and you have to make it right, otherwise the whole thing is forever broken. Even then, there were two huge bugs: one with integer overflow that created billions of
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by oleganza 13y ago
You pay for transactions. Don't tell people what to do with their money. Most of the transactions wouldn't be mixed at all. Just using new addresses with small balances is good enough for daily purchases. Mixing is needed only in
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by oleganza 13y ago
Zerocoin is interesting, but Bitcoin in its current form has two practical advantages: 1. Cryptographic primitives used in Bitcoin are old and well-tested. There's no crypto code in Bitcoin that was invented by Satoshi and could have b
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by oleganza 13y ago
I mentioned explicitly why it's not like CoinJoin. CoinJoin leaves a trace of "structuring money", while perfect mixing needs to leave no such trace. All transactions must look like regular payments, statistically indifferent
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by oleganza 13y ago
I don't think he underestimated it. Here's a quote: http://blog.oleganza.com/post/61694565252/satoshi-on-bitcoin... Later in 2010, Satoshi also mentioned that block size limit can be raised if needed in
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How to launder Bitcoins(blog.oleganza.com)
175 points by oleganza 13y ago|78 comments
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by oleganza 13y ago
It's not by design. There was a temporary built-in anti-spam limit (max block size of 1Mb) that is not even hit yet. When the pressure of transactions will push blocks closer to 1 Mb, most miners will raise the limit to not diminish th
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by oleganza 13y ago
Suggest a better way to distribute new asset "fairly". Facebook shares are also distributed unfairly. And gold. And dollars. Also, something that looks fair for you, wouldn't look fair for another person. What's importan
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by oleganza 13y ago
Creating a new Bitcoin that is incompatible with the old would NOT massively destroy value in the old system. Look at Litecoin and other forks. Bitcoin holders collectively add value to Bitcoin (by simply willing to hold them and willing to
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by oleganza 13y ago
I think it was a default. Or, at least, with one formatting toolbar which I simply disabled. I never used palettes of special symbols: it was easier to remember some common shortcuts via "escape" key (e.g. Euler constant is <es
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by oleganza 13y ago
When this happens the price of 1 BTC will be over 1 million of today's dollars and national currencies will seize to exist.
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by oleganza 13y ago
Another way to invest in Bitcoin when exchanges are not very liquid: accept BTC at the current rate and boost the value and awareness by making a bold move.
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by oleganza 13y ago
When I was a student and working with Mathematica 5 and 6 a lot, I was always amazed about its simplicity and power. I had just two windows: typing in a white document window without any toolbars (only zoom control in the bottom) and having
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by oleganza 13y ago
I'm not saying hiding BTC is easy now or will ever be cheap and simple, but it's certainly possible to automate and optimise security measures a lot and there will be a lot of apps doing exactly that. Right now the cost of taxatio
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by oleganza 13y ago
Paper stashes can't be put in DarkJPEG and uploaded on Facebook or Dropbox. I'm not arguing that it's always possible to find stuff out. I'm saying the bar is being raised much higher. Today cops don't go to thous

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